- NEW!
by Alex P. Keaton on August 28th, 2009
Sure sounds like contractual commission-based employment to me. But remember, 15% of revenue is different than 15% of profits... MUCH different. I have no idea how you would structure it but you would probably have to pay him minimum wage and then if 15% of revenue is more than that on the period at which it is regularly measured (day, week, month, quarter) then you would pay him the balance at those times.
But I'm not a lawyer. I just stayed at a Holiday Inn Express. Get a legal opinion on this if it's that important to you.
by HoboJoe on August 28th, 2009
If you own the company, hire him as a contractor for 15% of profit for compensation. This way he doesn't share the loss except loss of job. The company could be a sole proprietorship or a company. This is done often. You can just not renew the contrct if you want to fire him.
by dakiddakadk on August 28th, 2009
I want to give him 15% of future advertising revenue. BUT, I DON'T want to partnership with him. Is there a name for this type of business venture? When you give someone 15% of your company's profits/losses? I want full control of the company, I want to have the power to dismiss him if something goes wrong in the future. The only thing he will be doing is collecting 15% of future profits in exchange for promotions. Let me know please, is there a name for this? or a title for this?
Is it true that if you make a money than you have to take financial risk?
by Alex_H8694 on July 24th, 2011
| 1 person likes this
What are good ways to earn good fair money?
by hola.companero on July 5th, 2011
| 1 person likes this
Anyone interested in investing to the fastest growing economy, a frontier market, to Mongolia in financial sector?
by Ariunbold on August 7th, 2011
| 1 person likes this
Why blame those nasty banks and capitalism for the current successes!
by aiar on October 11th, 2011
| 1 person likes this
Are the wealthy the job creators? I thought small business people hired many more employees. Any thoughts?
by Freedom00 on July 1st, 2011
| 2 people like this
You're reading Question: I want full control of the company, the power to dismiss him if something goes bad in the future. He will receive 15% of my company's profits. Is there a name for this type of deal? a title for this? I DON'T WANT A PARTNERSHIP!
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Comments
I will be giving him 15% of my website advertising revenue.
by dakiddakadk on August 28th, 2009